*Fixed interest rate now increased*

Serve and Protect Credit Union: Fixed Saver 14 - Guaranteed Return of 4.25 % AER. 

Serve and Protect Credit Union are pleased to announce the latest fixed-rate savings account is now available paying a guaranteed return of 4% AER.

4. 5 % AER fixed for 12 months (starting 1st November 2026)

Balances between £1,000-£10,000 

No fees or charges

Available until 28th October 2026 

This is simply for your awareness—it’s not a recommendation. Please take a look and decide if it’s right for you. The account is available to apply for between 1st to 28th October 2026 and you need to become a member first – which is free. You can learn more here: https://serveandprotectcu.co.uk/save/fixed-saver/

Terms and eligibility criteria apply.

First Defence Finance: How does the Bank of England Work?

How Does the Bank of England Work? 

Author: First Defence Finance

You've probably heard the phrase "the Bank of England has changed interest rates" countless times.

But what does that actually mean?

Who decides whether interest rates go up or down? Why does the Bank of England change them? And how could a decision that gets made in London affect your savings, mortgage or loan?

With the Bank of England's next interest rate decision coming up on 17th September 2026, here's everything you need to know, without the financial jargon.

Department for Work & Pensions update: Do you know your state pension age?

With Pension Awareness Week 2026 ongoing, DWP are encouraging customers, service users, colleagues and stakeholders to take one simple first step: checking their State Pension age on GOV.UK. 

As State Pension entitlement is linked to National Insurance contributions, the Service community are reminded that spouses or civil partners who accompanied their Serving partner on an overseas assignment can complete a Gov.uk online form to request that NI credits are applied to their record for time spent overseas. 

For further information, eligibility criteria and the online form, please go to:  https://www.gov.uk/guidance/national-insurance-credits-for-partners-of-armed-forces-personnel-overseas

 

Serve & Protect Credit Union: Free financial webinars this September

Dates are detailed below; to find out more or to register for a webinar, please go to: https://sandpcu.co.uk/hs-webinars

Car Finance: More than a Monthly Payment
Date: Tuesday 1st September
Time: 12:00-12:45

Green Living: Simple Eco-Friendly Tips to Lower Your Bills
Date: Thursday 3rd September
Time: 12:00-12:45
What to Expect: Tips for living a greener life to save money and protect the planet!

Department for Work & Pensions: Latest roundup of news – 21 Aug 26

Department for Work and Pensions (including Jobcentre Plus) arrangements for Monday 31 August bank holiday

Department for Work and Pensions (including Jobcentre Plus) arrangements are different for 31 August bank holiday:
England, Scotland and Wales
On Monday 31 August offices and phone lines are closed
To make sure people get their payment on a day when our offices are open, arrangements have been made to make some payments early.
If the expected payment date is Monday 31 August, then benefits will be on Friday 28 August.
If the expected payment date is not shown, customers will get their money on their usual payment date.

Free bus travel 24/7 for disabled people
From 1 April 2027, people who hold a disabled bus pass can travel on buses for free, no matter the time of day. This extra support will help to open up access to workplaces, education, training, and other opportunities as well as giving people breathing space on the cost of living and putting money back in people’s pockets.
Currently, disabled bus passes are only valid for travel between 9.30am and 11pm during weekdays, unless local authorities choose to fund an extension.
Read the press release

SW MoneyHelper Financial Wellbeing Network latest information sheet

Your options for borrowing money (plus a super top tip energy update)

According to historical data from the Bank of England's Money and Credit reports, consumer credit net borrowing spikes significantly in late autumn, known as the November Spike. Net consumer borrowing through credit cards, car finance, and personal loans consistently experiences a sharp acceleration in November. This is primarily fuelled by aggressive retail promotions and early festive spending. However, we start to think about borrowing in the summer.

Most of us need to borrow money at some point in our lives. Using the right type of credit in the best way can help you deal with unexpected expenses, such as buying a new fridge, or planned expenses such as festive holidays. Find out what to consider first, to make sure you make the right decision.

Defence Update - BBC special: Our Offer – your money, your future

BBC special: Our Offer – your money, your future

Radio 4's Money Box has spoken with Service personnel, a panel of experts, and the Minister for Veterans and People about how the Armed Forces offer more than just your pay packet.

The Armed Forces Offer gives you a range of benefits. These can help your money go further now and in the future. This includes help with housing, discounts and support to save.

In the special episode aired on 29 July, Money Box explored what this means for our people and the challenges they can face. It also looked at what Defence is doing to keep improving the offer.

Serve & Protect Credit Union: Financial wellbeing information

Serve and Protect Credit Union is available to Service community employees as part of their financial wellbeing offering.

The not-for-profit organisation offers the option to save regularly through payroll and access responsible borrowing if needed.

Prepare for every stage of life

From managing everyday costs to preparing for major life moments, having the right support can make a real difference.

That’s why Serve and Protect want to remind you of one of the staff benefits you can access – Serve and Protect Credit Union. Whether you’re saving, planning ahead or managing life changes, support is available.

Visit the Serve and Protect website for more info: sandpcu.co.uk/plan-ahead

Serve & Protect Credit Union: August Webinars

🌍 Green Living: Simple Eco-Friendly Tips to Lower Your Bills
Date: Thursday 6th August
Time: 12:00-12:45
What to Expect: Tips for living a greener life to save money and protect the planet!

🐖 Saving Made Simple: Practical Tips to Boost Your Savings
Date: Wednesday 12th August
Time: 12:00-12:45
What to Expect: Explore 10 practical savings methods that anyone can apply to build a healthy savings cushion

MOD’s Families Hub is now in its second year – have you used it yet?

 

Discover My Benefits - Families

MoneyHelper Information: AI and Financial Decisions

Introduction

Research surveys suggest AI can boost confidence, but that confidence doesn’t always translate into improved financial decision making or outcomes. A study reported by Fortune found that while many millennials and Gen Z users reported felling more confident after using AI for financial advice, over 50% of them also said it had led them to make at least one poor financial decision. Feeling more confident doesn’t always mean the information is accurate.

Gibraltar: Fireside Chat with Tom Farley 29th June

The Gibraltar Government Department of Justice Trade and Industry has issued a press release inviting young people to attend an event.

To register: www.startupgrind.com/gibraltar

One of Minister Feetham’s key priorities has been creating opportunities for young people. Great speakers can change the way young people view their future. Tom Farley is one of those speakers.

During his tenure at the NYSE, Tom oversaw the world’s largest stock exchange. Since then, he has remained at the forefront of financial innovation and digital assets, earning recognition as one of the most influential figures in global financial services.

This is a rare opportunity for young people to hear directly from someone who has operated at the highest levels of international business and finance and who continues to help shape the future of global markets.

Planning to register and claim for the UK Nursery Authority (UKNA) from September? Living in Scotland, Wales or Northern Ireland? Volunteers needed for the user testing

Planning to register and claim for the UK Nursery Authority (UKNA) from September? The childcare team are asking for volunteers to take part in user testing and provide feedback on some of the products required to register and claim the UKNA reimbursement.

If you haven’t heard about UKNA, read the announcement from March 2026:
Transformative new childcare support will save Defence families up to £6000 a year - GOV.UK

Criteria for taking part in the testing:

• Service personnel (SP) must be Regular or FTRS (FC)
• SP with children aged 9 months to 2 years old living in Scotland or Wales, and SP with children aged 9 months to 4 years old living in Northern Ireland.
• SP that are currently paying for childcare at a registered childcare provider.
• SP that use a Tax-Free Childcare account to pay their provider.
• SP that have sufficient time available to test the product and provide feedback to the team.

User testing will take place between now and September.

If you fit the criteria and would like to take part in the user testing, please contact the Defence childcare team at people-affs-child-expenses@mod.gov.uk

BELGIUM: Claim your VAT back from UK Amazon orders to the BFPO address

 

Did you know that you can claim back your VAT from UK Amazon orders that have been delivered to the Belgium BFPO 26 address?

To claim back your VAT you need to email vat-refund-requests@amazon.co.uk.

Below is a basic draft email for you to copy and edit. Once you’ve written your email, you need to send it to: vat-refund-requests@amazon.co.uk to claim back your VAT from UK Amazon orders to the BFPO address. 

Defence Update on Long-term relationships: Closing the gap on allowances

If you’re in a long-term relationship, a range of allowances and support are now available to you – the same as your married or civil-partnered colleagues.

What’s changed?

Many allowances were only available to Service Personnel who were married or in a civil partnership. That wasn’t fair – not everyone wants to get married, even when they’re in a committed relationship.

From 1 May 2026, if you are in a Long-Term Relationship (Established) – known as an LTR(E) – you can claim allowances and provisions that were previously unavailable to you, just like your married colleagues.

SHAPE: Belgian Tax Letters Update

Belgian Tax Letters have been sent out, so please check your mailbox for one. If you, your spouse, your child aged 18+ have received one letter, please use the following guidelines so they can be returned and dealt with on time to avoid any fine.

 

• You will need to complete the French Version of Annex 1, “IPP – Declaration NMR.fr.docx”, these can be collected from the Community Office.

• The Service Personnel/ UKBC should complete the form, and sign it, with the Dependents (over 18 years old) details added in Box B as starred in the English copy below.

• 

• Once you have signed and dated it, take a copy of annex 1 and the tax letter, to the HNLO/CLO Office by no later 14 June.

• The form will be countersigned by the NMR’ s office and released to the BEL NMR for onward action.

• Any question do not hesitate to contact HNLO for assistance : Nadia.ElHamdi329@mod.gov.uk

Information provided by SHAPE HIVE

Brunssum: BSN needed for NATO employees' Bank accounts

Message from ABN AMRO Bank

We would like to inform you that in the coming period, we will be reaching out to customers who currently do not comply with the BSN obligation that has been in effect for all customers since January 7th of this year. In this communication, customers will be asked to provide their BSN after all.

What does the BSN obligation entail?
As of January 7, 2025, we are legally required to register a verified Citizen Service Number (BSN) for all customers in our systems.
This means that no exceptions can be made for providing a BSN.
It is important to emphasize that holding a BSN is independent of being a tax resident (taxpayer) in the Netherlands.

As an employee of an international organization, they are not registered in the Personal Records Database (BRP), but customers can obtain a Citizen Service Number (BSN) via PROBAS (for diplomats) or through the Non-residents Registration (RNI).

The BSN received through PROBAS or the RNI can be submitted via the app or Internet Banking under Personal Details.
If the customer is unable to do this digitally, they can contact our Customer Care representatives at 0900-0024 or, from abroad, at +31 (0)10 241 17 20.

What does this mean for the onboarding of new customers?
Submitting and verifying a valid BSN is mandatory during the onboarding process.
If the BSN is not immediately available, the customer must provide it no later than 120 days after onboarding. Should you require further information, please do not hesitate to reach out to us using the below details:

ABN AMRO Bank
Internet: www.abnamro.nl/en
Mob: +31 (0) 6 30325603 or Tel: +31 (0) 20 3434002
Visiting address: Vestdijk 18, 5611 CC, Eindhoven, The Netherlands
Post address: Vestdijk 18, 5611 CC, Eindhoven, The Netherlands

Brunssum: Opening a Bank Account in the Netherlands for Internationals

 

There will be many factors that influence your decision when looking to open a Dutch bank account, from the bank’s accessibility in English to special features.

For information on what to consider when choosing a bank account; online accounts, traditional banks and pros and cons for each, visit:

https://dutchreview.com/expat/best-banks-expats-netherlands/

If you're looking for some banking options the below are available in the Netherlands:

• ABN AMRO
• Bunq
• ING
• N26
• Revolut

For those with an ABN AMRO bank account please note: if you do not open your bank account as instructed below you maybe liable to pay Dutch tax.

Brunssum: Claim your VAT back from UK Amazon orders to the BFPO address

Did you know that you can claim back your VAT from UK Amazon orders that have been delivered to the Brunssum BFPO 28 address?

To claim back your VAT you need to email vat-refund-requests@amazon.co.uk.

Below is a basic draft email for you to copy and edit. Once you’ve written your email, you need to send it to: vat-refund-requests@amazon.co.uk to claim back your VAT from UK Amazon orders to the BFPO address. 

Wifinity Armed Forces Offers: eSIM for travel and deployment.

The current MOD offers from Wifinity include:

Low cost eSIM for deployment and travel - Wifinity | Explore our low cost eSIM plans

• Cheapest options on the market for MOD personnel and families going abroad
• 10% discount for MOD personnel and families using code HIVE10
• 20% discount for existing Wifinity customers. Customers can log into their ‘My Account’ to get their code